Cognitive factors and entrepreneurial intentions: global evidence using Global Entrepreneurship Monitor data

Purpose Entrepreneurial intention (EI) is considered to be the most important predictor of actual entrepreneurial behaviour. Therefore, it is essential to understand the factors that drive EI. In this context, this study aims to examine the various cognitive factors that affect EI. Design/methodology/approach Secondary data from the 2020 Global Entrepreneurship Monitor database, comprising 51,048 individuals, were used in this study. The study examined several cognitive factors to identify the determinants of EI. A binary logit model was used to achieve the study’s objectives. Findings This study found that 26.19% of the total sample exhibited EI. Among the different cognitive factors, the entrepreneurial role model, opportunity recognition, self-efficacy, risk tolerance, proactiveness, vision, creativity and social valuation were found to uplift EI. On the other hand, various control variables, such as income, age, gender, occupation, education and region, were found to significantly influence EI. Originality/value Most EI studies conducted to date have used the Theory of Planned Behaviour and focused solely on students. However, this study has tried to explore different cognitive factors to make the outcomes more meaningful and robust. This study focuses on individuals across various age groups and occupations rather than on students alone.